Skandinaviska Enskilda Banken AB publ Acquires 116,000 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Skandinaviska Enskilda Banken AB publ boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 67.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,000 shares of the company's stock after buying an additional 116,000 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.52% of Kontoor Brands worth $24,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp grew its stake in Kontoor Brands by 1.2% in the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company's stock valued at $180,373,000 after buying an additional 26,759 shares in the last quarter. Pacer Advisors Inc. grew its stake in Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after buying an additional 44,287 shares in the last quarter. Geode Capital Management LLC grew its stake in Kontoor Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock valued at $98,409,000 after buying an additional 15,058 shares in the last quarter. Jennison Associates LLC boosted its holdings in Kontoor Brands by 4.6% in the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock valued at $67,651,000 after purchasing an additional 34,652 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after purchasing an additional 35,932 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Kontoor Brands Price Performance

Shares of NYSE KTB traded up $2.70 during mid-day trading on Friday, reaching $62.21. 1,056,790 shares of the company were exchanged, compared to its average volume of 481,707. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $3.44 billion, a PE ratio of 14.01, a PEG ratio of 2.12 and a beta of 1.23. The company's 50 day moving average price is $80.66 and its 200 day moving average price is $82.33.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same period in the previous year, the firm posted $1.28 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, March 10th. Kontoor Brands's dividend payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

Several research analysts have commented on KTB shares. Barclays cut their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. UBS Group cut their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company cut their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $91.50.

About Kontoor Brands

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.